Subject: s7-09-09

July 8, 2009

I strongly oppose this proposed rule as written. There are already plenty of regulations in place to allow your entity to audit and regulate fee based advisory business. This rule would allow and encourage unnecessary, and burdensome audits and interruptions. Just because you have been burned recently as a result of deceitful advisors you do not need to burden and tax the advisors who are already complying with your regulations.